Leonardo DRS, Inc. (DRS)

Leonardo DRS, Inc., together with its subsidiaries, provides defense electronic products and systems, and military support services worldwide. It operates through Advanced Sensing and Computing and Integrated Mission Systems segments. The Advanced Sensing and Computing segment designs, develops, and manufacture sensing and network computing technology that enables real-time situational awareness required for enhanced operational decision making and execution; and offers sensing capabilities span applications, such as missions requiring advanced detection, precision targeting and surveillance sensing, long range electro-optic/infrared, signals intelligence, and other intelligence systems including electronic warfare, ground vehicle sensing, active electronically scanned array tactical radars, dismounted soldier, and space sensing. This segment also provides network computing, which are utilized across a range of mission applications, such as platform computing on ground and shipboard for advanced battle management, combat systems, radar, command and control, tactical networks, tactical computing, and communications. The Integrated Mission Systems segment offers electrical propulsion systems, which includes power conversion, control, distribution, and propulsion systems, as well as power dense permanent magnet motors, energy storage systems, associated rugged and compact power conversion, electrical actuation systems, as well as advanced thermal management technologies, motor controllers, and instrumentation and control equipment. Leonardo DRS, Inc. was incorporated in 1968 and is based in Arlington, Virginia. Leonardo DRS, Inc. operates as a subsidiary of Leonardo US Holding, LLC.

Ticker
DRS
Exchange
Nasdaq
Sector
Industrials
Industry
Aerospace & Defense
Market cap
$9.08B
52-week range
$32.39 - $50.59

Valuation

Share price
$34.04 (close of Nov 6, 2026)
P/E (TTM)
24.67x
Price to book
3.14x
Price to free cash flow
26.39x
Enterprise value
$9.07B
Book value per share
$10.84

Price performance

PeriodChange
1 day+3.15%
5 days-9.66%
1 month-7.45%
3 months-24.86%
6 months-18.55%
Year to date-0.15%
1 year-3.60%
3 years+72.35%
5 years+222.35%
10 years+2,736.67%
All time-48.13%

Short interest

As of
Oct 15, 2026
Short % of float
1.42%
Shares short
3.79M
Days to cover
3.98
Change since prior report
+15.31%
Source
FINRA consolidated short interest

Profitability and growth

Return on equity
10.18%
Return on invested capital
9.06%
Return on assets
6.20%
Return on capital employed
10.69%
Gross margin
23.82%
Net margin
7.62%
EBITDA margin
12.09%
Revenue growth
12.80%
Net income growth
30.52%
Free cash flow growth
22.04%

Cash flow and balance sheet

Free cash flow yield (TTM)
3.79%
Current ratio
1.88x
Net debt to EBITDA
-0.02x

Latest reported year

Period end
Dec 31, 2025
Fiscal year
2025
Revenue
$3.65B
Cost of revenue
$2.78B
Gross profit
$869.00M
EBITDA
$441.00M
Net income
$278.00M
Earnings per share
$1.05
Research and development
$129.00M
Interest expense
$8.00M
Shares outstanding
265.90M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$3.65B$869.00M$278.00M$1.05
2024-12-31$3.23B$736.00M$213.00M$0.81
2023-12-31$2.83B$648.00M$168.00M$0.64
2022-12-31$2.69B$575.00M$405.00M$1.88
2021-12-31$2.88B$547.00M$154.00M$0.73
2020-12-31$2.78B$494.00M$85.00M$0.40
2019-12-31$2.71B$459.00M$75.00M$0.52
2018-12-31$2.33B$414.00M-$10.00M-
2008-03-31$3.30B$426.48M$165.77M-
2007-03-31$2.82B$362.48M$127.06M-

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-3123.82%7.62%10.18%9.06%
2024-12-3122.76%6.59%8.33%8.03%
2023-12-3122.93%5.94%7.23%7.34%
2022-12-3121.35%15.04%19.04%16.87%
2021-12-3119.00%5.35%9.67%8.49%
2020-12-3117.78%3.06%5.96%7.87%
2019-12-3116.91%2.76%7.36%-
2018-12-3117.75%-0.43%--
2008-03-3112.94%5.03%9.85%-
2007-03-3112.85%4.50%8.46%-

Cash and debt by year

Period endCashDebt
2025-12-31$647.00M$348.00M
2024-12-31$598.00M$366.00M
2023-12-31$467.00M$407.00M
2022-12-31$306.00M$396.00M
2021-12-31$240.00M$393.00M
2020-12-31$61.00M$374.00M
2019-12-31$85.00M-
2008-03-31$86.25M-
2007-03-31$95.83M-
2006-03-31$1.29M-

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31$227.00M$32.00M
2024-12-31$186.00M$22.00M
2023-12-31$145.00M$17.00M
2022-12-31-$32.00M$5.00M
2021-12-31$118.00M-
2020-12-31$69.00M-
2019-12-31$102.00M-
2018-12-31$65.00M-
2008-03-31$140.15M-
2007-03-31$139.33M-

Dividend history

Most recent payment
Aug 13, 2026
Paid in the last twelve months
$0.36
Payment dateDividend per share
2026-08-13$0.09
2026-05-19$0.09
2026-03-10$0.09
2025-11-18$0.09
2025-08-20$0.09
2025-05-22$0.09
2025-03-13$0.09

Investor relations

Past earnings dates

ReportedFiscal periodEPS estimate
2026-10-29Sep 2026$0.36
2026-07-30Jun 2026$0.27
2026-05-05Mar 2026$0.21
2026-02-24Dec 2025$0.37
2025-10-29Sep 2025$0.28
2025-07-30Jun 2025$0.22
2025-05-01Mar 2025$0.17
2025-02-20Dec 2024$0.36

Filings and sources

Company website
leonardodrs.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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